Questions

How can I go about selling my patented project?

It is a medical watch that sends data on a real time on server. It measures heart rate, saturation, temperature, fall detection, pedometer, gsm 3G supported and GPS. User can get medical help from hospital on real time.

2answers

Before you consider selling your patented product, here are some questions you should consider.

1. Do I have a viable market?
2. Do I have sales/orders that show this demand
3. What sort of competitive advantage do I explicitly have over my competitors.

It's important to get as much leverage as possible over whoever you plan to sell your product too. The best way to do this is to get hard data you can use to back up your claims and to find clear distinct competitive advantages which will cement a strong market position for years to come.

If you have any further questions, drop me a message and I'll be more than happy to answer them :)


Answered 2 years ago

The fact that your project is patented does not necessarily mean that it is commercially attractive. You have to develop a minimum viable product and get market validation. Once you achieve that and see there is enough demand, you should probably run a few pilots to collect data. Then you can go in two directions, either you build your startup, run through an accelerator to get visibility, or you approach a vendor that is interested in this type of technology. The startup path might give you a better indicator on valuable your patent really is.


Answered 2 years ago

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